Business, international

Banking on recovery

Article Abstract:

Indonesia's Lippo Group has since the late 1980s been focusing on offering services such as insurance and banking to the growing Indonesian middle class. However, the collapse of the country's economy has forced it to reassess this strategy. It is now focusing on banking and seeking new business abroad. James Riady, who heads the company, is optimistic about the future of the Indonesian economy. However, he is also exercising caution, and Lippo is placing strong emphasis on consolidation.

Jospin's flexible approach to privatisation

Article Abstract:

The initial promise by France's new left-wing government to stop all privatizations is being modified, with the prime minister Lionel Jospin saying that the government will seek a more flexible approach to outstanding issues. The halting of the sale of electronics firm Thomson-CSF has been rescinded and the state is set to cut its stake to under 50%, to be finalised before end-1997. The privatization of banking and insurance group GAN-CIC has also been announced.